California Steel posts Q2 financial results
US flat rolled steel producer California Steel Industries has recently posted financial results of second quarter, ended on June 30, 2004. According to the report, the company shipped 529'961 net tons of steel products in the subject quarter. Net income of the company is reported as $26.3 million on sales of $288.5 million against net income of $20 million on sales of $181.5 million recorded in the second quarter of 2003. EBITDA in the second quarter is recorded as $53.8 million against EBITDA of $10.7 million recorded in the corresponding period of previous year. The company reported its operating income as $46 million, which indicates a record increase when compared with operating income of $2.5 million recorded in the second quarter of 2003.